Knowledge Base

Value Added statement isn't an Account in the traditional sense. It is mere a statement showing the economic output of...

Money Market is an important ingredient for growth and development of an economy. India too is no exception for it....

After the demonetization, Government has earned an important lesson. Keeping the rhetoric aside, it's enlightened to the wisdom of colours...

Although in some cases, quoting of PAN for certain type of transaction is must, for most of the transactions quoting...

Normally, an assessee pays tax based on computation of his expected tax liability. And very often his tax liability is...

With Aadhaar being mandatory for filing ITR, there are several consequences for not linking the same. Below is in detail...

Straight Line Method (SLM) and Written Down Value (WDV) methods are the most used methods for calculating depreciation. Although Companies...

Section 194D deals with Tax Deduction on payment of insurance commission. This section casts responsibility on any person responsible for...

Provisions related to Tax Deduction at Source (TDS) that are applicable on payments to contractors and sub-contractors are in Section...

One can check the status of Income Tax refund from TIN-NSDL website. You can click on the below link: Link...